Financial stocks fall, Fith Third dives 7%

GregMorcroft

NEW YORK (CBS.MW) -- Fifth Third [s; fitb] shares tumbled 7.2 percent early Friday and were the top decliner among major U.S. financial stocks. Fifth Third cut profit forecasts late Thursday as the bank alters its balance sheet to prepare for higher interest rates. In the broader sector, word that the economy created fewer than expected jobs in November helped drive stocks down. The AMEX Securities Broker/Dealer Index
$xbd
fell 0.4 percent, the Philadelphia Bank Sector Index
$bkx
fell 0.7 percent and the S&P Insurance Index

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